Bitcoin could touch ATH again in 2019: according to weiss ratings
With the beginning of every year, comes predictions of the next Bitcoin all-time high. The most recent one of those is the Weiss Rating one. Weiss Rating has made a prediction for 2019 and believes that it will go over the 2017’s all-time high.
Sluggish Entry Into 2019
The Bitcoin market from 2018 has its work cut out for itself. The reason being, 2018 was one of the worst bear markets that the cryptocurrency market has ever faced. While it was the worst it was more than expected because, after the bull of 2017, the market was expected to correct itself.
The cryptocurrency market entered 2019 in quite a sluggish fashion. The predictions that are being made are all over the place because people are rather divided about whether or not Bitcoin is in recovery mode or bull mode.
But if there is any truth to the predictions that are being made, the next two quarters are going to be really interesting for Bitcoin and all the altcoins.
One of the biggest changes that the cryptocurrency market saw in the first week of January was the return of Ethereum. Ethereum had a terrible year in 2018 faltering because of scalability issues, but the announcement of the hardforks seem to have done the trick because Ethereum is once again back to being the 2nd largest cryptocurrency in the world.
The first of the three Ethereum hardforks is scheduled to happen on the 12th of January.
According to Weiss Rating, 2019 will be the year that Bitcoin and the cryptocurrency market as a whole will see a large amount of adoption. The company believes that 2019 will be the best year for people to get into the market and will also be one of those years when the market will surprise the community.
The reason Weiss Ratings thinks that 2019 is the year that mass adoption will take place is that people believe the top-rated cryptocurrency to be a very good store of value and a wise investment.
Coming from 2018, the cryptocurrency market has quite a bit of recovering to do and that is what 2019 will be all about. The international rating agency also believes that this will be the year that the Bitcoin gets a similar status to gold in the world.
Because of all of the above-mentioned reasons, Weiss Ratings believes that this year, Bitcoin will outdo itself and set a new all-time high before the end of 2019.
Altcoins Will Take More Time
While the rating agency has quite a few good things to say about the Bitcoin market and the community, it has quite the opposite to say about the altcoin market. According to Weiss Rating, the altcoin market will take a lot more time to become as big and prominent as Bitcoin.
Weiss has also said that this year, most bitcoin-like altcoins will fade to obscurity because of the lack of innovation in their build. But there are some altcoins that Weiss has said will rise to prominence, but most of them will fade is the general idea from this year’s Weiss Rating.
Weiss Ratings, in the altcoin market, has predicted a good year for coins like Cardano and EOS. And has gone as far as to say that these companies will be instrumental in the technology shift that will take place this year.